Asked by
David Raul Salinas
on Dec 17, 2024
Verified
If the value of goods and services that Spain purchases from the United Kingdom is less than the value of goods and services that the United Kingdom purchases from Spain, then the United Kingdom has
A) positive net exports and a trade surplus with Spain.
B) positive net exports and a trade deficit with Spain.
C) negative net exports and a trade surplus with Spain.
D) negative net exports and a trade deficit with Spain.
Trade Surplus
The difference between a nation's exports and imports when exports exceed imports.
Trade Deficit
A measure of international trade in which a country's imports exceed its exports.
Net Exports
A country's economic output's net impact from international trade, calculated as the difference between its total exports and total imports.
- Absorb the principles and constituents of a country's trade balance, including exports, imports, trade surplus, and trade deficit.
- Grasp the fundamentals of net exports and their implications on a country's economy.
Verified Answer
LG
Learning Objectives
- Absorb the principles and constituents of a country's trade balance, including exports, imports, trade surplus, and trade deficit.
- Grasp the fundamentals of net exports and their implications on a country's economy.